7
May 2024
VIDENDUM
PLC
Notification of Transactions of Directors and Persons
Discharging Managerial Responsibility (PDMRs)
Long Term Incentive Plan
("LTIP") - 2024 Awards
Videndum plc ("the Company")
announces that on 2 May 2024 the following awards of ordinary
shares of 20 pence each were made under the Company's LTIP to
Executive Directors and PDMRs.
|
Name
|
Position
|
Award of 2024 LTIP shares
|
|
Stephen Bird
|
Group Chief Executive
|
286,817
|
|
Andrea Rigamonti
|
Group Chief Financial
Officer
|
153,134
|
|
Marco Pezzana
|
PDMR
|
120,000
|
|
Nicola Dal Toso
|
PDMR
|
120,000
|
|
Marco Vidali
|
PDMR
|
120,000
|
|
Jon Bolton
|
PDMR
|
67,500
|
The awards to Stephen Bird and
Andrea Rigamonti represent 150% and 125% of salary
respectively.
The awards will be subject to the
following two performance conditions that will run from 1 January
2024 to 31 December 2026:
(1) TSR
33% of the award is subject to the
Company's TSR performance measured against a comparator group. The
comparator group will be the constituents of the FTSE 250 index
(excluding financial services companies and investments trusts).
25% of this element of the award will vest if the Company's TSR is
at the median point of the comparator group at the end of the
performance period and 100% will vest if the Company's TSR is at or
above the upper quartile of the comparator group at the end of the
performance period. A straight-line sliding scale will operate
between these two points and there will be no vesting below the
median point.
(2) EPS
67% of the award is subject to
growth in the Company's adjusted earnings per share ("adjusted
EPS") over the three-year performance period. The adjusted EPS
performance condition has threshold set at 38 pence and a stretch
set at 50 pence for the year ended 31 December 2026 with a
straight-line sliding scale between each point. At threshold, 25%
of this element of the award will vest and at stretch 100% of this
element of the award will vest. There will be no vesting below
38 pence per share.
ROCE
The Remuneration Committee will also
continue to use a ROCE underpin to ensure the underlying financial
performance of the business, for the EPS element of the award, as
part of the vesting outcome. The Committee will also retain a
discretion to scale back the vesting of an award should it result
in an unfair outcome for shareholders.
Subject to satisfaction of
performance conditions, the awards made under the LTIP will vest on
the third anniversary of the award - being 2 May 2027. In respect
of Executive Directors, any awards vesting under the 2024 award
will, after deduction of taxes, be subject to a further two-year
holding period.
Jon Bolton
Group Company Secretary
020 8332 4600
Videndum is a leading global
provider of premium branded hardware products and software
solutions to the content creation market. We are organised in three
Divisions: Videndum Media Solutions, Videndum Production Solutions
and Videndum Creative Solutions.
Videndum's customers include
broadcasters, film studios, production and rental companies,
photographers, independent content creators ("ICC"), professional
musicians and enterprises. Our product portfolio includes camera
supports, video transmission systems and monitors, live streaming
solutions, smartphone accessories, robotic camera systems,
prompters, LED lighting, mobile power, carrying solutions,
backgrounds, audio capture, and noise reduction
equipment.
We employ around 1,600 people across
the world in ten different countries. Videndum plc is listed on the
London Stock Exchange, ticker: VID.
More information can be found
at: https://videndum.com/
LEI number:
2138007H5DQ4X8YOCF14